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Bay Street securities firms paid out record year-end bonuses of $130,500 per employee for 2014. Suppose...

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Statistics

Bay Street securities firms paid out record year-end bonuses of$130,500 per employee for 2014. Suppose we would like to take asample of employees at the Roy-West securities firm to see whetherthe mean year-end bonus is greater than the reported mean of$130,500 for the population. (a)State the null and alternativehypothesis you would use to test whether the year end bonuses paidby Roy-West where greater than the population mean. b. Suppose asample of 60 Roy-West employees showed a sample mean year-end bonusof $150,000. Assume a population standard deviation of $20,000 andcompute the p-value. c. with ?=0.05 as level of significance, whatis your conclusion? d. Repeat the preceding hypothesis test usingcritical value approach.

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4.1 Ratings (711 Votes)
Given 130500 samplesize n 60 sample mean 150000 20000aHo 130500Ha 130500b sample    See Answer
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